Property Articles

Bringing you the latest commercial property market news from NZ Herald and TrueCommercial.

  • Big city K’ Rd corner development site

    Big city K’ Rd corner development site

    A big Auckland city vacant commercial site with a 33 metre frontage onto busy Karangahape Rd (K’ Rd) and a 36 metre frontage onto intersecting Gundry St is on the market for sale next month. The freehold corner property at 520-536 K’Rd and 2 Gundry St has a total land area of 1272 sq m and is about 100 metres from the major crossroads of Great North Rd, Ponsonby Rd and Newton Rd; and is just 600 metres from Queen St.

    Date Feb 2015

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  • News: Space in Evening Post building

    News: Space in Evening Post building

    Part of the fifth level of the well-known former Evening Post newspaper building at 82 Willis St in central Wellington is being offered for sale. “This seven storey city character building was refurbished and subdivided in half floor office unit titles around 2002 and 2003,” says Andrew Smith of Bayleys Wellington who, with colleague Mark Walker, is offering the stratum in freehold 164 sq m vacant half floor for sale by tender closing at 4 pm on Wednesday March 4.

    Date Feb 2015

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  • Tidy owner occupier warehouse in Petone

    Tidy owner occupier warehouse in Petone

    A Lower Hutt freehold warehouse and workshop property with first floor offices and ground floor amenities is up for auction early next month. “This tidy industrial property at 465 Jackson Street is in a progressive Petone location close to major transport routes,” says Paul Cudby of Bayleys Wellington who, with colleague Andrew Smith, is marketing it for sale by auction at 11 am on Thursday, March 5, on Level 14, of the Bayleys Building, 36 Brandon St, Wellington.

    Date Feb 2015

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  • Fletcher revamped HQ for sale and leaseback

    Fletcher revamped HQ for sale and leaseback

    Fletcher Building is redeveloping its 2.2 hectare Penrose head office campus which it is offering for sale subject to a 20 year leaseback agreement. “Following the completion of this 18 month project, the multi-building campus is expected to generate more than $5.6 million in net annual rental income,” says Peter Herdson of Colliers International who, with colleague Andrew Reed, is marketing the property for sale by international private treaty closing at 4 pm on Thursday March 19.

    Date Feb 2015

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  • Parnell property has prominence and potential

    Parnell property has prominence and potential

    A prominent four level Parnell office block situated on a large 2013 sq m freehold site with strong add value potential and offering stunning city and harbour views has been put on the market for sale. “The building at 9 Augustus Terrace is less than 200 metres from Parnell Rise,” says Andrew Reed of Colliers International who, with colleagues John Green and Jason Seymour, is offering the property for sale by deadline international private treaty closing at 4 pm on Thursday March 19 unless it sells beforehand by negotiation.

    Date Feb 2015

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  • Hamilton’s new look Centre Place South for sale

    Hamilton’s new look Centre Place South for sale

    A major portion of the Centre Place Shopping Centre in the Hamilton CBD is for sale in Colliers International’s first 2015 portfolio of 40 properties which was launched yesterday. Centre Place South is anchored by the nationwide tenant Farmers and generates $3.86 million in total net annual rental income.

    Date Feb 2015

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  • Coopers Creek vineyard property for sale and leaseback

    Coopers Creek vineyard property for sale and leaseback

    The property encompassing Coopers Creek’s vineyard at 601 State Highway 16, Huapai in West Auckland, is for sale with a lease arrangement providing for the continued operation of the winery and vineyard by the current owners. “Coopers Creek has been established for more than 30 years with this 9.3 ha site being the home of its leading export wine brands,” says Dwayne Warby of Colliers International who is marketing it for sale by deadline private treaty closing on March 19 unless sells beforehand by private treaty.

    Date Feb 2015

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  • CBD site with consent for 46 level tower

    CBD site with consent for 46 level tower

    One of a rapidly diminishing number of opportunities to secure a well located high rise development site in Auckland’s CBD is available for purchase with a resource consent already in place for a 46 storey residential tower. The 645 sq m rectangular site at 51-53 Albert Street is for sale by private treaty through Colin McKenna of Bayleys Auckland, with a closing date of February 28, if not sold earlier by negotiation. McKenna says while there are a number of sites still to be developed in the CBD most have been secured by developers with plans in place for large scale projects or by land bankers with no immediate intentions of selling.

    Date Feb 2015

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  • Syndication of big Manukau and Blenheim properties

    Syndication of big Manukau and Blenheim properties

    A new property syndication has hit the market involving a large Manukau City office building with an established Crown tenant and a big Mitre 10 Mega retail complex in Blenheim. The promoter of the scheme is Maat Property Group based in Albany, which already successfully manages eight proportional ownership properties that it has syndicated in the past five years with a combined capital value of $90 million, ranging in value from $4 million to $25.5 million.

    Date Feb 2015

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  • Split risk multi-tenanted Browns Bay retail centre

    Split risk multi-tenanted Browns Bay retail centre

    A standalone property encompassing 10 independent retail tenancies within a single building in the popular North Shore seaside suburb of Browns Bay and is to be auctioned next month. “Annual net income from the property at 25-27 Anzac Bay Road is about $273,000 annually from nine tenants on net leases and one on a gross lease,” says Gary Seekup of Barfoot & Thompson North Shore Commercial.

    Date Feb 2015

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  • Luxury Hawkes Bay retreat for sale

    Luxury Hawkes Bay retreat for sale

    Summerlee, one of the most luxurious and most expensive retreats in the Hawke’s Bay, has been placed on the market for sale publicly for the first time. The property at 404 Clifton Rd, 30 minutes from Napier airport, is being marketed for sale as a going concern accommodation business or as a private residence by Bayleys Hawke’s Bay and will be sold by auction on March 27.

    Date Feb 2015

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  • Cambridge Bunnings will appeal to range of buyers

    Cambridge Bunnings will appeal to range of buyers

    The sale of Bunnings Cambridge, south of Hamilton in the Waikato, presents the opportunity for a purchaser to acquire a large quality retail premises leased to a national company brand in a high profile location. “This is a well presented property with a first class tenant,” says Andrew Shaw, agent for Bayleys Hamilton who, with colleague Mike Swanson, is marketing the property for sale through a tender process closing on February 20.

    Date Feb 2015

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  • Jolly Punter building looks a good bet

    Jolly Punter building looks a good bet

    A small Mixed Use zoned property on the busy main road into Devonport on Auckland’s North Shore is up for sale offering an entrepreneurial investor the potential of a bigger future development opportunity. Located at 148 Lake Road, Belmont, it comprises a two level character building on a 178 sq m site that is producing net annual rental income of $45,000. Long standing tenant Jolly Punter Sports Bar has a TAB licence and occupies the ground floor of the premises which has 18 gaming poker machines.

    Date Feb 2015

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  • Wellington industrial vacancies drop again

    Wellington industrial vacancies drop again

    Vacancy across the Wellington region’s primary industrial precincts fell by nearly a full percentage point over the last 12 months for the second year running, says Bayleys Research. Overall vacancy in the agency’s latest survey sat at 6.4 per cent compared with a 2013 total of 7.4 per cent, says Ian Little Bayleys senior research analyst,

    Date Feb 2015

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  • Bay of Islands hotel has many income streams

    Bay of Islands hotel has many income streams

    The Qualmark four-star Paihia Pacific Resort Hotel in the Bay of Island is up for sale as a freehold property and going concern business offering its new owner a variety of future income earning streams within an idyllic setting. Located on 5549 sq m of land at 25 Kings Rd, Paihia, the four building complex set in semi-tropical landscaped grounds has 36 suites and a wide range of other facilities.

    Date Feb 2015

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  • Herne Bay commercial villas a ‘superb investment’

    Herne Bay commercial villas a ‘superb investment’

    Two neighbouring freehold standalone Herne Bay properties comprising residential villas that have been converted for commercial use, will be auctioned early next month as part of Bayleys’ Greater Auckland portfolio The property at 155 Jervois Rd is a 147 sq m renovated dwelling on a 658 sq m site and the 150 sq m villa conversion next door at 157 Jervois Road occupies 372 sq m of land. The two are being marketed by Ranjan Unka and Brian Caldwell of Bayleys North Shore Commercial in conjunction with Kate Kirby of Bayleys Auckland and will be auctioned separately on behalf of a group of private investors on March 4, unless they sell earlier by negotiation.

    Date Feb 2015

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  • Queen St Landmark’s trophy shops

    Queen St Landmark’s trophy shops

    Three Queen Street central city retail properties on the ground floor of Auckland’s historic Landmark House are among over 30 commercial and industrial properties which will be auctioned early next month as part of Bayleys' latest Greater Auckland portfolio. Located at 187–189 Queen Street, on the corner with Durham Street West, the offerings encompass two retail units of over 170 sq m and a smaller outlet of 56 sq m which will be auctioned individually on Wednesday March 4.They are being marketed by Alan Haydock, James Chan and Damien Bullick of Bayleys Auckland office.

    Date Feb 2015

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  • Coromandel golf resort all teed-up for buyer

    Coromandel golf resort all teed-up for buyer

    One of New Zealand’s most picturesque coastal golf resorts, along with adjoining development land suitable for residential or commercial accommodation, is being marketed for sale as a striking property and business opportunity. “A new owner could take over the resort as a virtual turnkey operation,” says James Hill, who is selling the 34 hectares of golf course, club buildings, villas and bare land sites through a price by negotiation process in a joint marketing campaign with agency JLL.

    Date Feb 2015

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  • Chance for firm to relocate to rosy Rosebank

    Chance for firm to relocate to rosy Rosebank

    A quality modern industrial building will be available for new tenants in October offering the opportunity for a growing or established business to gain a foothold in the rapidly transforming Rosebank Peninsula commercial precinct near Avondale. Andrew Hooper, Dwayne Warby and Chris Upright of Colliers International are marketing the property at 507 Rosebank Rd which comprises a 6883 sq m office and warehouse site in an industrial area with exceptionally high growth demand.

    Date Feb 2015

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  • Only one left in Parnell homeware centre

    Only one left in Parnell homeware centre

    The last remaining building is being offered for lease in an upmarket character retail development in an area of Parnell that has already become a destination homeware hub. “Previously occupied by Liquorland, the building at 101 The Strand will provide up to 350 square metres of showroom space when it is completed in early May,” says Leroy Wolland, retail leasing director at Colliers International.

    Date Feb 2015

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